The U.S. Federal Income Tax imposes a tax on “taxable income”. It does NOT impose a tax on ALL income. See 26 US Code § 1. Truth be known. Our gov’t has kept three important facts about the Federal Income Tax hidden from the American People for more than a century:

1. The federal income tax is an EXCISE tax. *
2. EXCISE taxes are taxes laid on the gainful exercise of federal privilege.
3. Most workers do NOT earn their pay exercising any federal privilege.

* Refer to House Congressional Record – 78th Congress – First Session – March 27, 1943 – Volume 89 – Part 2 – Page 2580

The sad truth is… most Americans have been tricked into paying federal taxes they’re not liable for by law. It would appear crypto’s are next in line to fall victim to this scam/fraud.